Shareholder dissidence mars Ford AGM May 17, 2006
The chairman and CEO of Ford Motor Company, Bill Ford, has reiterated his pledge not to accept a salary or bonus until the company’s operations return to profitability. Speaking at the automaker’s annual meeting, however, it became apparent that Mr Ford’s promises have failed to satisfy every shareholder. Reports emerging from Detroit said that a total of eight shareholder proposals opposed by Ford were voted down at the annual meeting, but two initiatives aimed at curbing the influence of the Ford family in the management of the company drew about one-in-five votes cast.Moreover, a proposal to require that Ford …
Ford sees record month in hybrid sales May 2, 2006
Ford Motor Company has produced its best-ever monthly sales for hybrid vehicles in April, as rising gas prices continue to affect vehicle choice in both the US and abroad. Ford, which sells gas-electric versions of the Ford Escape and Mercury Mariner models, has had three months of hybrid sales increases, fueled by rising gas prices, and company and government incentives. Combined sales of the two vehicles more than doubled over March, and increased 68% compared to April 2005 sales. “There is a strong market for hybrids, provided they are attainable and affordable,” said Al Giombetti, president of Ford and …
Ford plant closing costs: $2.4 billion April 20, 2006
LOS ANGELES (Reuters) — Ford Motor Co. on Wednesday said it expects to take charges in 2006 of $2.4 billion associated with previously announced plant closings designed to help reverse losses in the automaker’s North American operations.
Ford purchasing chief wants bankruptcy reform April 19, 2006
Ford Motor Co. purchasing chief Tony Brown wants the auto industry to push for changes in federal bankruptcy law that will make it easier to recover assets from suppliers that seek court protection from creditors.
Ford purchasing chief wants bankruptcy reform
Ford Motor Co. purchasing chief Tony Brown wants the auto industry to push for changes in federal bankruptcy law that will make it easier to recover assets from suppliers that seek court protection from creditors.
Ford to Shut Truck Plants in Two Cities in 2008 April 14, 2006
The action, on top of plant closings that Ford has already announced, means that the geographic scope of Ford’s manufacturing is shrinking. Read more
Bankruptcy ‘not an option’, says Ford CEO April 7, 2006
As Japanese car manufacturers continue to make gains in the US market at the expense of the Detroit icons, the threat of bankruptcy has loomed large for the domestic giants. However, the chief executive of Ford Motor Company has said Chapter 11 is not an option. Read more
Ford COO Jim Padilla to retire July 1
Ford Motor Co. President Jim Padilla will retire July 1, and CEO Bill Ford will assume his responsibilities. Padilla, 59, leaves after 40 years at Ford. He also will depart the company’s board of directors. Read more
Bankruptcy Not an Option for Ford, Chief Says April 6, 2006
William Clay Ford Jr. said Ford Motor remained profitable and had plenty of cash on hand. Read more
Ford releases hi-tech Fiesta April 3, 2006
Ford Motor Company has released a special edition of its Fiesta filled with next generation technology. Read more
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